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Add as a preferred source on GoogleSouth Korea Finalizes 361.96 Billion Won in Bank Fines
The decision also sets 1.778 billion won in administrative penalties for seven banks over Hong Kong H-index ELS sales.
South Korea’s Financial Services Commission (FSC) finalized a decision to impose 361.96 billion won in penalty surcharges and 1.778 billion won in administrative fines on seven banks over consumer-protection violations tied to Hong Kong H-index ELS sales.
The decision concerns violations of the Financial Consumer Protection Act. The banks named are Kookmin, Shinhan, Hana, Nonghyup, SC, Woori and Suhyup Bank.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.